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Angel One Shares Drop 5% Amid Decline in Client Acquisition and Order Volume
Angel One shares fell over 5% as November’s client acquisition dropped 17% YoY, while the overall client base grew 22%.
Shares of Angel One fell over 5% on December 3, following a 17% YoY drop in gross client acquisition to 500,000 in November. The brokerage's number of orders declined 10.4% YoY to 117.3 million, while average daily orders also fell 15.1% YoY to 6.2 million. Despite this, its client base increased 22% YoY to 35.08 million.